UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Acquires 6,203 Shares of ITT Inc. $ITT

Key Points

• UBS AM increased its stake in ITT Inc. by 2.5%, acquiring an additional 6,203 shares, bringing its total holdings to 256,670 shares valued at approximately $33.15 million.
• In Q1, several institutional investors, including T. Rowe Price Investment Management, significantly boosted their stakes in ITT, which now has institutional ownership of over 91.5%.
• ITT recently declared a quarterly dividend of $0.351 per share, with a yield of 0.8%, and has set fiscal year 2025 earnings guidance between 6.350 and 6.550 EPS.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in ITT Inc. (NYSE:ITT - Free Report) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 256,670 shares of the conglomerate's stock after purchasing an additional 6,203 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.33% of ITT worth $33,151,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Select Equity Group L.P. boosted its stake in ITT by 4.4% during the 1st quarter. Select Equity Group L.P. now owns 4,765,602 shares of the conglomerate's stock worth $615,525,000 after acquiring an additional 200,676 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in ITT by 97.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,835,894 shares of the conglomerate's stock worth $237,125,000 after acquiring an additional 904,654 shares during the last quarter. Nuveen LLC bought a new position in ITT during the 1st quarter worth approximately $156,406,000. Findlay Park Partners LLP boosted its stake in ITT by 94.7% during the 1st quarter. Findlay Park Partners LLP now owns 795,600 shares of the conglomerate's stock worth $102,760,000 after acquiring an additional 387,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in ITT by 0.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 522,212 shares of the conglomerate's stock worth $67,449,000 after acquiring an additional 4,905 shares during the last quarter. Institutional investors own 91.59% of the company's stock.

Insider Transactions at ITT

In other news, CEO Luca Savi sold 36,385 shares of ITT stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total value of $5,994,792.60. Following the completion of the sale, the chief executive officer owned 297,536 shares in the company, valued at $49,022,031.36. The trade was a 10.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.47% of the company's stock.

ITT Stock Up 1.3%

ITT stock opened at $179.80 on Tuesday. The stock has a market capitalization of $14.02 billion, a P/E ratio of 28.27, a price-to-earnings-growth ratio of 2.19 and a beta of 1.39. The company has a current ratio of 1.45, a quick ratio of 0.99 and a debt-to-equity ratio of 0.24. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $180.59. The firm has a 50-day moving average price of $166.03 and a 200-day moving average price of $149.91.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The conglomerate reported $1.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.02. The business had revenue of $972.40 million during the quarter, compared to analyst estimates of $947.48 million. ITT had a net margin of 13.99% and a return on equity of 18.08%. The firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business earned $1.49 EPS. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. As a group, equities research analysts anticipate that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.351 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.40 annualized dividend and a yield of 0.8%. ITT's dividend payout ratio (DPR) is presently 22.01%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ITT shares. UBS Group lifted their price objective on shares of ITT from $168.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. Bank of America lifted their price target on shares of ITT from $145.00 to $170.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Citigroup reaffirmed a "buy" rating and issued a $186.00 price target (up previously from $159.00) on shares of ITT in a research note on Monday, July 14th. The Goldman Sachs Group lifted their price target on shares of ITT from $160.00 to $177.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Finally, Stifel Nicolaus lifted their price target on shares of ITT from $197.00 to $202.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, ITT currently has an average rating of "Moderate Buy" and a consensus price target of $183.67.

ITT Company Profile

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.

Want to see what other hedge funds are holding ITT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ITT Inc. (NYSE:ITT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.